The euro quickly became a major international currency: the euro bond market soon came to rival the dollar bond market; euro bank notes began circulating around the world.

很快，欧元成为主要国际货币之一：欧元债券市场迅速成为美元债券市场的竞争对手；欧元钞票开始在全世界流通。

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Scared investors rushed into the safest dollar assets, lured by the liquidity of the vast market for us Treasuries, as the euro area was revealed as a mess of fragmented bond markets.

受到美国国债广阔市场的流动性的引诱，惊恐的投资者纷纷抢购最为安全的美元资产，因为欧元区充满混乱，债券市场各自为战。

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The euro crisis has spread to Italy, the world’s third-largest bond market, which means the stock of rich-world government debt that is considered safe has shrunk dramatically.

欧元区危机已蔓延到意大利，这里有世界第三大的债券市场。 这意味着，之前持有认为相对安全的发达国家的国债，已经大幅缩水了。

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The euro bond market has overtaken the dollar bond market in size, and given the region's industry a huge boost.

BBC: The euro: Still in the doldrums

Big companies are borrowing more cheaply in the euro-wide bond market.

ECONOMIST: The euro economy

Spain's borrowing costs have been rising as investors in the bond market fear it could become the next euro area nation to fall victim to the debt crisis.

CNN: Spain faces bank concerns after downgrade